The Core Report #747 Markets Slip Again As Santa Rally Hopes Fade
Dec 9, 2025
Ajay Bhalotia, General Secretary of AIREA, dives into the nuances of Indian rice exports, discussing tariffs and their potential impact on market volumes. Sumit Singhania from Deloitte India shares insights on the innovative AI-powered TaxPragya platform, aimed at transforming tax research for professionals. The conversation spurs on how such technologies can enhance productivity and accuracy, ensuring timely and precise compliance in a complex landscape. Together, they explore the intersection of agriculture and technology in today's economy.
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Markets Losing Santa Rally Momentum
- Indian markets lost momentum as Santa Rally hopes faded amid IPO-driven liquidity drain and foreign outflows.
- Half of this year's 300 listings trade below offer price, signaling prolonged market caution.
Rupee Weakness: Short Pain, Long Gain
- Bank of America says rupee weakness can be negative short-term but positive longer-term by influencing prices and trade.
- Strategists expect dollar weakness next year and project the rupee around 86 by end-2026.
Oil Prices Hinged On Peace Talks
- Oil prices are tied to prospects of a Ukraine-Russia peace deal which would raise supplies and pressure prices.
- Brent traded near $62.71 and WTI near $59.08 as markets watched diplomacy closely.